Protecting Your Finances from the Rise of Deepfake Imposter Scams

Scammers are increasingly using artificial intelligence (AI) to generate voice deepfakes, or vocal renditions that mimic real people's voices, in order to trick individuals and banks into transferring money. The falling costs of generative AI programs and the wide availability of recordings of people's voices on the internet have made it easier for scammers to carry out voice-related AI scams. These attacks are particularly prevalent in credit card service call centers, where human representatives deal with customers needing help with their cards. While measures such as screening software can help detect machine-generated speech, scammers can now quickly clone a target's voice using AI systems. The concern is that scammers could directly reach individuals and impersonate someone else, posing a significant security threat.